Northern Freegold Stakes Additional Ground in Dawson Range Mining Camp, Yukon
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VANCOUVER, BRITISH COLUMBIA, Aug 27 (MARKET WIRE) --
Northern Freegold Resources Ltd. (TSX VENTURE: NFR) has added 152 new
claims to its 158 claim Tad/Toro property in the Dawson Range, based upon
encouraging results from NFR's Freegold Mountain Project and the intense
interest in properties in the Dawson Range and White Gold District by
Underworld Resources and other companies. The Tad/Toro Property is
located 25 km to the northwest of Northern Freegold's 166 sq. km Freegold
Mountain Project where an initial inferred 1.08 million ounce gold
resource (67.57 million tonnes @ 0.50 g/t gold with 0.30 g/t gold cutoff)
was recently announced (see news release dated July 27, 2009). The new
claims will almost double the size of the Tad/Toro Property, bringing it
up to approximately 32 square kilometers.
The Tad/Toro Property is located within the 100 km long Big Creek portion
of the 250 km long Dawson Range copper-gold belt (see attached map:
http://media3.marketwire.com/docs/Tad_toro_August27.jpg). Deposit models
within the belt include porphyry copper-gold+/-molybdenum, associated
epithermal vein and breccias systems and peripheral polymetallic veins.
Historical work on the property including geological mapping, sampling,
geophysics, trenching and diamond drilling indicates Tad/Toro has the
potential to host gold-copper+/-molybdenum mineralization similar to that
of the Casino Deposit (7.9 million ounces gold, 4.3 billion pounds copper
and 475 million pounds molybdenum, www.westerncoppercorp.com) to the
northwest.
Historical drilling carried out in 1969 targeted copper values in a
porphyry body. Re-analysis of a portion of this core for gold in 1986 by
Noranda Exploration Co. Ltd. returned encouraging gold values in three
holes: T-2 gave 0.51 g/t gold over 37.0 m (including 1.0 g/t gold over
8.2 m); T-12 gave 1.23 g/t gold over 4.9 m; and drill hole T-14 gave 1.68
g/t gold over 7.0 m (as reported by Noranda, with no reference as to
which lab prepared and assayed these results, or whether the lab was
accredited). Sampling of another unsplit interval from T-12 during 2007
due diligence work for the preparation of the NI 43-101 compliant report
filed on Sedar, returned significant results of 1.13 g/t gold and 8.7 g/t
silver over 7.9 m, including 5.07 g/t gold and 29.5 g/t silver over 0.9
m. Other potential economic minerals exist in substantial amounts in
other unexplored zones.
Work in the late 1990s at Tad/Toro outlined over 10 drill targets, many
of which are focused on gold soil anomalies in conjunction with
geophysical anomalies. Access to the property is via an existing tote
trail, known as the Casino Trail which is used year round to access
active hardrock and placer projects at Sonora Gulch, Prospector Mountain
and Hayes Creek (the location of the Tad/Toro Property). Nuggets of
tetradamite and other bismuth-gold telluride minerals in placer
concentrates have been recovered from placer operations on the Tad/Toro
Property.
The technical information disclosed in this release has been reviewed and
approved by Susan P. Craig, P. Geo. The reserves and resources mentioned
in this release have not been verified by the qualified person and the
information is not necessarily indicative of the mineralization at
Tad/Toro.
Northern Freegold is a well financed rapidly advancing Canadian-based
precious metals exploration and development company, which brings local
expertise and strong management to focus on the development of economic
mineral resources on the district-scale Freegold Mountain gold and copper
project in the Yukon and the Burro Creek gold and silver property in
Arizona.
Northern Freegold Resources Ltd.
On behalf of the Board of Directors
William (Bill) G. Harris, CEO & COO
Cautionary Note Regarding Forward-Looking Statements
The information in this press release includes certain "forward-looking
statements" All statements, other than statements of historical fact,
included herein including, without limitation, plans for and intentions
with respect to the company's properties, statements regarding intentions
with respect to obligations due for various projects, strategic
alternatives, quantity of resources or reserves, timing of permitting,
construction and production and other milestones, are forward looking
statements. Statements concerning Mineral Reserves and Mineral Resources
are also forward-looking statements in that they reflect an assessment,
based on certain assumptions, of the mineralization that would be
encountered and mining results if the project were developed and mined in
the manner described. Forward-looking statements involve various risks
and uncertainties. There can be no assurance that such statements will
prove to be accurate, and actual results and future events could differ
materially from those anticipated in such statements. Important factors
that could cause actual results to differ materially from NFR's
expectations include the uncertainties involving the need for additional
financing to explore and develop properties and availability of financing
in the debt and capital markets; uncertainties involved in the
interpretation of drilling results and geological tests and the
estimation of reserves and resources; the need for cooperation of
government agencies and First Nation groups in the exploration, and
development of properties; and the need to obtain permits and
governmental approval. NFR's forward looking statements reflect the
beliefs, opinions and projections of management on the date the
statements are made. NFR assumes no obligation to update the forward
looking statements if management's beliefs, opinions, projections, or
other factors should they change.
Cautionary Note Regarding Reserve and Resource Estimates
This press release has been prepared in accordance with the requirements
of the securities laws in effect in Canada, which differ from the
requirements of U.S. securities laws. Unless otherwise indicated, all
resource and reserve estimates included in this press release have been
prepared in accordance with National Instrument 43-101 Standards of
Disclosure for Mineral Projects ("NI 43-101") and the Canadian Institute
of Mining and Metallurgy Classification System. NI 43-101 is a rule
developed by the Canadian Securities Administrators which establishes
standards for all public disclosure an issuer makes of scientific and
technical information concerning mineral projects. Canadian standards,
including NI 43-101, differ significantly from the requirements of the
United States Securities and Exchange Commission ("SEC"), and resource
and reserve information contained herein may not be comparable to similar
information disclosed by U.S. companies. In particular, and without
limiting the generality of the foregoing, the term "resource" does not
equate to the term "reserves". Investors should also understand that
"inferred mineral resources" have a great amount of uncertainty as to
their existence and great uncertainty as to their economic and legal
feasibility. It cannot be assumed that all or any part of an "inferred
mineral resource" will ever be upgraded to a higher category. The
estimation of quantities of resources and reserves is complex, based on
significant subjective assumptions and forward-looking information,
including assumptions that arise from the evaluation of geological,
geophysical, engineering and economic data for a given ore body. This
data could change over time as a result of numerous factors, including
new information gained from development activities, evolving production
history and a reassessment of the viability of production under different
economic conditions. Changes in data and/or assumptions could cause
reserve estimates to substantially change from period to period. No
assurance can be given that the indicated level of mineral will be
produced. Actual production could differ from expected production and an
adverse change in mineral prices could make a reserve uneconomic to mine.
Variations could also occur in actual ore grades and recovery rates from
estimates.
The TSX Venture Exchange has not reviewed and does not
accept responsibility for the adequacy or accuracy of this release.
Contacts:
Northern Freegold Resources Ltd.
Debbie James
Investor Relations Manager
877.893.8757 or 604.893.8757
604.893.8758 (FAX)
www.northernfreegold.com
Copyright 2009, Market Wire, All rights reserved.
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